ILCB - Inflation Continues To Surge At Fastest Pace Since 2008 (Or 1992)

• The Labor Department reported that the CPI rose 0.6% in May, bringing the total rise in the past 12 months to 5%.
• Does the FOMC still think that inflation is just “transitory?” - and will they begin to change their current accommodative policy?
• The Fed is in the process of unloading some of the corporate bonds and ETFs that it bought a year ago during the worst of the pandemic.
• The G7 agreed to Janet Yellen's idea of a minimum global tax on corporations. But the minimum figure, at 15%, was far lower than her desired 21%, and it did not include Ireland, with its low 12.5% corporate tax rate, which has become home to many U.S. corporations.

For further details see: